Press "Enter" to skip to content

Mercury Systems Acquires Atlanta Micro For Undisclosed Sum

Mercury Systems Inc (NASDAQ: MRCY) has acquired Atlanta Micro, Inc., a designer, and manufacturer of RF modules and components. The financial terms of the all-cash deal were not disclosed.

  • Mercury Systems noted the acquisition expands its RF and microwave component portfolio, deepens market penetration in core EW, radar, and weapons markets, and strengthens its position in microelectronics.
  • Mercury Systems expects the acquisition to be immediately accretive to adjusted EPS. Atlanta Micro is expected to contribute ~$16 million in revenue for the twelve months ending December 31, 2022, with adjusted EBITDA margins above 30%.
  • Mercury Systems anticipates the acquisition to have a non-material financial impact in its second fiscal quarter ending December 31, 2021.
  • The company funded the acquisition and associated transaction expenses through its existing revolving credit facility. 
  • Mercury Systems held cash and cash equivalents of $95.8 million as of October 1, 2021.
  • “The acquisition directly supports our stated goal to provide next-generation trusted microelectronics capabilities for critical aerospace and defense applications,” commented Mark Aslett, Mercury’s president, and CEO.
  • Price Action: MRCY shares are trading higher by 2.94% at $49.67 on the last check Monday.

This post was originally published on this site

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *